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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Friday newspaper round-up: HSBC, Tesco, windfall tax

(Sharecast News) - HSBC has temporarily withdrawn mortgage deals for new borrowers due to a surge in demand ahead of expected rate rises. The bank said on Thursday it would remove all its "new business" residential and buy-to-let products, with deals becoming available again on Monday. - Guardian The consumer group Which? has reported Tesco to the UK's competition watchdog over the supermarket's failure to provide detailed pricing information on its loyalty card offers. The group said the UK's largest retailer had not clearly explained the unit price of deals for its Clubcard holders - such as the price per 100g or 100ml - so that shoppers could easily compare value for money between different sized packages, bottles, brands and retailers. - Guardian

Jeremy Hunt is preparing to soften the Government's windfall tax on oil and gas companies after warnings of a jobs bloodbath in the North Sea. The Chancellor could announce changes to the so-called energy profits levy as soon as Friday, The Telegraph understands, following intense lobbying by the industry. - Telegraph

Three of America's biggest investment banks could cut their ties with Crispin Odey's investment firm over allegations that the fund manager is facing more than a dozen accusations of sexual assault and harassment. Goldman Sachs, Morgan Stanley and JPMorgan Chase are reviewing their relationships with Odey Asset Management after allegations that Odey harassed or assaulted 13 women, according to an investigation by the Financial Times, which also said that the City regulator had opened an inquiry two years ago which is believed to be continuing. - The Times

France is claiming victory over Germany in the battle to lure bankers from London, attracting thousands of finance jobs with a little help from Emily in Paris. The TV series appears to have helped convince bankers that the Parisian lifestyle offers perks that Frankfurt cannot match. - The Times

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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